No plans to sell DB Schenker as DSV rumours resurface
18 / 08 / 2021
DB Schenker has said there are no current plans to sell the company as rumours of DSV Panalpina’s interest in the Deutsche Bahn-owned forwarder resurfaced.
Earlier this week, DSV Panalpina chief financial officer Jens Lund told Danish publication Shipping Watch that the company would be interested in holding talks with state-owned Deutsche Bahn should DB Schenker be put up for sale.
This follows on from speculation in late May that DSV could be interested in the company, which was valued at the time at around €8-10bn.
There are also German federal elections due to take place in September and there has been some suggestion that plans to sell the forwarder could be put forward after the vote.
However, a spokesperson for DB Schenker described the speculation as “purely hypothetical”.
“Rumors about DB Schenker getting sold have been in the market for years now. Our very strong financial results and the upcoming federal elections in Germany give more fuel for such speculations,” the spokesperson said.
“Also, DSV’s hunger for acquisitions is well known in the industry. However, as our owner currently has no plans to sell DB Schenker, any considerations are purely hypothetical.”
Speculation has been circulating for years that Deutsche Bahn may sell all or part of its forwarding business, or attempt an IPO, as it looked to raise cash.
However, the logistics business posted a strong set of results at the half-year mark which makes it more attractive to both potential investors and also to the wider Deutsche Bahn group.
DSV Panalpina, meanwhile, has been growing rapidly through acqiusitions over recent years. Following on from this year’s all-share deal for Agility’s Global Integrated Logistics business it is now the world’s third largest forwarder, overtaking DB Schenker.
Combining DSV and DB Schenker would create the world’s largest forwarder with revenues of around $46bn, compared with current leader DHL Global Forwarding which last year generated revenues of $28.4bn.
In terms of airfreight, the two companies would handle around 2.6m tonnes per year which would also make a combination of the two a leader in air cargo.